Technology policy in U.S

Despite important weaknesses, the U.S. scientific and technological system 'is more productive and resilient than its critics think and is likely to continue to perform well.' America's trade deficits during the 1980s were the result of macroeconomic policies and not evidence of the nation's overall competitiveness. As evidence of strength in the American system is seen in a Census Bureau analysis that shows a fairly healthy trade surplus in the high-technology sector during most of the 1980s. Also, he says, U.S. industry tripled its spending for research and development during the 1980s, and a thriving venture-capital market emerged to supply seed money for future technologies. On the other hand, there is surprising weakness in basic and generic research - an area of traditional American strength.